BASF LOWERS 2015 FORECAST
Germany's BASF lowered its outlook for 2015 and reported a 4.8%
decline in third-quarter profit, hurt by the slowing global economy
and weaker demand in Europe.
ERICSSON'S REVENUES BEAT EXPECTATIONS
Ericsson's revenue grew more than expected in the third quarter,
as the company's main networks unit saw high mobile broadband
demand in places such as China, Russia and the Middle East.
BANKIA BOOSTED BY LOWER BAD LOAN PROVISIONS
Bankia SA says that 3Q net profit rose compared to a year
earlier as Spain's largest nationalized bank reported lower costs
and fewer provisions to cover soured loans.
VOLVO TO CUT COSTS AS NET PROFIT RISES
Swedish commercial vehicle maker Volvo said it will cut costs
further while it reported an increase in third-quarter net profit
as good momentum in North America and Japan offset slow development
in emerging markets.
AIRBNB WEIGHS EMPLOYEE STOCK SALE AT $13B VALUATION
Airbnb is said to have met with investors to discuss a new round
of financing that could the value the apartment-rental site at
about $13 billion.
AMAZON REPORTS ITS BIGGEST-EVER OPERATING LOSS
Amazon.com's soaring ambitions are coming at a steep cost,
dragging the e-commerce giant to its biggest quarterly loss in 14
years. The wider loss came despite a 20% jump in revenue to $20.58
billion.
MICROSOFT BUCKS TREND AS SALES DEFY EXPECTATIONS
Microsoft may not be cool, but its sales continue to defy
expectations by growing at a much faster clip than those of its
business-technology peers. Microsoft's revenue rose 11% from a year
earlier in the three months ended Sept. 30.
BLOODIED QANTAS SHOWS SIGNS OF RECOVERY
Qantas Airways said intense competition in the Australian
domestic travel market with Virgin Australia may be easing a little
faster than expected, as it reiterated guidance for a return to
profit in its fiscal first half.